Hisbah Perspective of Maslahah: Market Supervision in the Time of the Prophet Muhammad SAW as a Role Model for Modern Economics

Abstract

The market is an important element in the economy that allows transactions between sellers and buyers, and is a place where economic mechanisms occur in society. In Islam, buying and selling activities have important values and are regulated to avoid unfair practices, such as usury and fraud in weighing. The market is vulnerable to deviations, such as fraudulent weighing and misuse of product standards, which can harm consumers. Therefore, supervision through institutions such as Hisbah is crucial in ensuring fairness and compliance with sharia principles. This study uses a literature study method with a comparative approach, comparing the principles of Hisbah during the time of the Prophet Muhammad SAW with the modern market supervision system. The aim is to identify the relevance of these principles in the current economic context. Hisbah during the time of the Prophet Muhammad functioned as a market supervisor, ensuring transparency, preventing fraud, and ensuring healthy competition based on Islamic law. The function and concept of Hisbah are important references in understanding fair market supervision in the modern economy. The findings of this study indicate that the principles of Hisbah applied during the time of the Prophet Muhammad are still relevant and can be adapted in modern market supervision to create economic justice based on Islamic law. The existence of a supervisory institution such as Hisbah which plays a role in maintaining market mechanisms, ensuring the availability of goods, and preventing deviations, shows how important control is in a competitive market so that it runs in accordance with the values of justice and social welfare.